HMRC hands back £37m overpaid pension tax

HMRC processed 16,168 tax repayment claim forms between 1 July and 30 September. Although £10m more was given back in overpaid tax in Q3 than the previous quarter, the average repayment fell by £220 to £2,280, HMRC's October pension schemes newsletter said. The figures came after HMRC revealed £1.6bn was withdrawn in the same quarter using the pension freedoms, and the work and pensions committee started oral evidence sessions as part of its inquiry into the policy. Hargreaves Lansdown head of policy Tom McPhail said the figures raise questions about how easy it is for individuals ...